JV Ejercito pushes review of oil deregulation, EPIRA, creation of national fuel reserve amid global crisis
April 13, 2026
Amid the ongoing tensions in the Middle East and its ripple effects on fuel prices, Senate Deputy Majority Leader JV Ejercito called for a serious review of the country’s energy policies, including Oil Deregulation Law and Electric Power Industry Reform Act (EPIRA), and the establishment of a national fuel reserve.
Ejercito raised concern over the current deregulated setup of the oil industry, noting that it has limited the government’s ability to cushion the impact of rising fuel prices on consumers.
“Ang krisis sa Middle East ay isang malinaw na wake-up call para sa ating gobyerno. Hindi nga tayo kasali sa sigalot ng mga makapangyarihang bansa, ngunit isa tayo sa mga unang nakaramdam ng epekto nito sa ating ekonomiya,” Ejercito said.
He stressed that regardless of the system in place, the government must ensure consumer protection through greater transparency and accountability among oil companies.
“Kailangan maging transparent ang mga oil companies sa paraan ng unbundling kung saan maipapakita nila ang breakdown, kung magkano ba ang napupunta sa import costs, taxes, refining at iba pa,” Ejercito pointed out.
“Magiging mekanismo ang unbundling laban sa posible o hinalang overpricing. Hindi makatao na habang madami ang naghihirap at nawawalan ng kabuhayan ay patuloy naman ang paglobo ng kita ng mga oil companies.”
The lawmaker from San Juan also underscored the urgency of re-evaluating whether the current deregulated system remains the most effective framework for the country.
EPIRA law
Ejercito also called for a review of the EPIRA law, citing global price movements and shipping costs that directly impact local electricity rates. He added that while the law was designed to bring down costs, it has not delivered the intended results.
“Malaki ang inaangkat nating coal pero halos doble ang nagiging epekto nito sa singil kasama na sa presyo ang lahat ng gastos,” he said.
Ejercito cited continued privatization and market competition that have yet to ease the burden on consumers.
National fuel reserve
As part of a long-term solution, Ejercito pushed for the creation of a national fuel reserve to ensure supply stability during crises.
“Ito ay isang praktikal na paraan upang magkaroon tayo ng strategic buffer na pwedeng maglabas ng supply tuwing may kakulangan o biglaang pagtaas ng presyo,” he said.
“Ang katotohanan ay hindi tayo handa sa krisis na ito. Kailangan natin ng long-term solutions at proactive measures para sa mga ganitong pagkakataon para hindi na tayo nabibigla kapag may mga pandaigdigang krisis.”
